COM DEV wins commercial satellite contracts
CAMBRIDGE, ON, July 5, 2012 /CNW/ - COM DEV International Ltd. (TSX: CDV), a leading manufacturer of space hardware subsystems, today announced that it has been awarded fully funded contracts from Space Systems/Loral Inc. in excess of $10M USD, which are in addition to a contract already awarded in May 2012 by Space Systems/Loral Inc. for the same Program.
COM DEV will deliver Ka band microwave components and assemblies.
"This is a significant win," said Mike Williams, President of COM DEV International Products. "In a highly competitive market this further strengthens our relationship with a major customer in an important new growth segment."
Work on the contract will be carried out at the Company's facility in Cambridge, Ontario with completion expected by November 2013.
About COM DEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global provider of space hardware and services. With facilities in Canada, the United Kingdom and the United States, COM DEV manufactures advanced subsystems and microsatellites that are sold to major satellite prime contractors, government agencies and satellite operators, for use in communications, space science, remote sensing and defense applications. COM DEV's majority-owned subsidiary, exactEarth Ltd., provides satellite data services.
This news release may contain certain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from results indicated in any forward-looking statements. The Company cautions that, among other things, in view of the rapid changes in communications markets and technologies, and other risks including the cost and market acceptance of the Company's new products, the level of individual customer procurements and competitive product offerings and pricing, and general economic circumstances, the Company's business prospects may be materially different from forward-looking statements made by the Company.
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For further information:
Chief Financial Officer
Tel: (519) 622-2300 ext. 2826
The Equicom Group
Tel: (416) 815-0700 ext. 261